Codes, Standards and Guidelines

An integral part of the CFA Institute mission is to develop and administer codes, best practice guidelines, and standards that guide the investment industry. These standards help ensure all investment professionals place client interests first.

Code of Ethics and Standards of Professional Conduct

The foundation of our work is the Code of Ethics and Standards of Professional Conduct. We refer to it as the Code and Standards. We expect all CFA members and candidates to sign the statement and adhere to this code.

See the Code and Standards, Standards of Practice Handbook, and more

Global Investment Performance Standards

The GIPS standards are a set of industry-wide principles that guide investment firms on how to calculate and report their investment results to prospective clients. We encourage firms to voluntarily adopt these standards.

See resources for applying GIPS standards

Asset Manager Code

We offer this voluntary code of conduct to help asset managers practice ethical principles that put client interests first. By helping investors identify asset managers who have committed to high standards of professional conduct, we are building the integrity of the investment industry.

See more about adopting the Asset Manager Code

More Codes, Standards, and Guidelines

Adopt these codes and guidelines if they apply to your practice area:

• Analyst/Issuer Guidelines
• Research Objectivity Standards
• Soft Dollar Standards
• Trade Management Guidelines